Homely, the free-to-access digital platform which aims to create a fairer property market for homebuyers and renters, has received its first strategic pre-seed investment, from UST, a digital transformation solutions company.

Founded in 2021, Homely uses technology and partnerships to support people’s homeownership journey by improving their financial position and connecting them to tailored guidance, support and products.

Homely partners with landlords, renters, and financial institutions to increase transparency and accountability during the rental and buying process, as well as providing incentives and rewards through its brand partners.

The funding will help Homely complete the development of its tech platform and launch its proposition to the market, including activating a number of partnerships with established and trusted brands – this includes the likes of Aviva.

Homely’s launch proposition includes a new way of buying property that allows immediate access to the housing ladder via Homely Flexible Ownership products which connect prospective homeowners to flexible, institutional, capital.

As a leading global provider of technology and digital transformation services, UST has an established track record of investing in innovative businesses across a broad range of market sectors. UST has helped guide digital transformation journeys for prominent companies including Fortune 500 and Global 2000 clients across financial services, healthcare, manufacturing, retail, semiconductor, and technology.

Lewis Scott, CEO of Homely, said: “UST’s renowned presence as leading providers of digital technology and transformation services, and the depth of knowledge of its experts, aligns particularly well with Homely. As a business we want to offer innovative, data-led solutions to the current issues facing the property market.

“At such a crucial moment for the property market, this first round capital raise will allow Homely to help more people on their journey to homeownership. When it feels like buying a home, or qualifying for a mortgage, is moving further and further out of reach, Homely is committed to providing innovative solutions, underpinned by technology.

“As we expand and evolve moving forward, there will be further opportunities on the horizon for investors to work with us and be part of an important journey to help more people become HomeReady. We look forward to working closely with UST and driving forward better outcomes for the UK property market.”

Praveen Prabhakaran, chief delivery officer at UST, added: “We are pleased to join forces with Homely, a truly innovative brand that is using technology to offer modern solutions to longstanding problems within the UK property market. UST has been working to expand our footprint within the financial services sector and this partnership represents another promising opportunity to work with a business that shares our commitment to innovation and customer satisfaction.

“Homely’s use of data insights will provide users with advice and insights on how they can start their journey to home ownership and we are excited to see what the future brings.”